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    Property profile & analytics

    2131 Emory NW St Covington, GA 30014-2210

    • Specialty properties
    • 2,352 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1114192
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Specialty properties

    Property Details for 2131 Emory NW St

    Year built
    1905
    Construction
    WOOD
    Lot size
    0.50 lot acres
    Property size
    2,352 SF
    Zone code
    E2
    Property type
    Specialty properties
    APN
    C0250-00070-012-000
    APU
    C025000070012000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $367,000
      Market price range: $70.1k - $389k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Newton
    State
    Georgia
    Longitude
    -83.8643
    Latitude
    33.5978
    CBSA code
    12060
    CBSA name
    ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $52,240
    $46,880
    $99,120
    -
    $130,600
    $117,200
    $247,800

    Comparable in this City

    • Value Estimation
      $255,000
      0.27 Acres

      7185 Pineneedle SW Dr

      CHARITABLE ORGANIZATION • 0.27 Acres
      7185 Pineneedle SW Dr, Covington, GA 30014-3568
      View Details
    • Value Estimation
      $270,000
      1,638 SF

      Riv Walk Farm Pkwy

      PROFESSIONAL CLUBS/ASSOCIATIONS • 1,638 SF
      Riv Walk Farm Pkwy, Covington, GA 30014
      View Details
    • Value Estimation
      $215,000
      1,504 SF

      10406 Hwy 278th E

      VETERINARY, ANIMAL HOSPITAL • 1,504 SF
      10406 Hwy 278th E, Covington, GA 30014-1670
      View Details
    • Value Estimation
      $265,000
      730 SF

      10257 Hwy 142nd N

      VETERINARY, ANIMAL HOSPITAL • 730 SF
      10257 Hwy 142nd N, Covington, GA 30014-1527
      View Details
    • Value Estimation
      $235,000
      3,788 SF

      1163 Reynolds SW St

      FUNERAL HOME • 3,788 SF
      1163 Reynolds SW St, Covington, GA 30014-6631
      View Details
    • Value Estimation
      $355,000
      24,924 SF

      1140 Reynolds SW St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 24,924 SF
      1140 Reynolds SW St, Covington, GA 30014-6625
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Specialty Property For Sale

      Specialty property available for purchase in Covington, Georgia.
      9180 Doctor Martin Luther King Junior Ave, Covington, GA 30014
      View Details
    • $800,000
      3,120 SF

      Versatile Retail Space Near Covington Square

      Retail property suitable for daycare, personal care home, or office.
      6135 Petty St SW, Covington, GA 30014
      View Details
    • $1,500,000
      3.57 Acres

      Covington Commercial Property For Sale

      3.557 acres with five buildings near Downtown Covington Square.
      6125 Washington St SW, Covington, GA 30014
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    • $2,000,000
      36.00 Acres

      Prime 36-Acre Horse Farm in GA

      Covington equestrian estate, owner financing.
      460 Dixie Rd, Covington, GA 30014
      View Details
    • Contact for pricing
      0.35 Acres

      Residential Lot Near Covington Square

      Residential lot near Covington Square, less than an hour from Atlanta.
      7155 Petty St SW, Covington, GA 30014
      View Details
    • $125,000

      Commercial Land Ready For Development

      Cleared, level commercial land suitable for development.
      7134 Turner Lake Cir, Covington, GA 30014
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      3,000 SF

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      Adaptable commercial building suitable for various business needs.
      3143 NE Mill St, Covington, GA 30014
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    • $40 SF/Yr
      150 SF

      Prime Covington Executive Office Suite

      150 sq ft, Single Tenant, Utilities Included
      2180 Elm St, Covington, GA 30014
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    • Contact for pricing
      188,699 SF

      Modern Industrial Warehouse Space Available

      60,575 SF warehouse space ideal for distribution or manufacturing.
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      19,200 SF

      Jackson Market: Covington Retail Space

      High-traffic retail space, flexible layouts.
      4115 Highway 278, Covington, GA 30014
      View Details
    • Contact for pricing
      258,748 SF

      Modern Distribution Facility Ready

      Class A distribution space available near I-20 and Rivian.
      14138 Lake Forest Ct NE, Covington, GA 30014
      View Details
    • $4,000 /Mo
      2,262 SF

      Historic Covington Commercial Space For Rent

      Versatile 2,262 SF space in the heart of Covington.
      2175 Emory St NW, Covington, GA 30014
      View Details
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    2131 Emory NW St
    Covington, GA 30014-2210
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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